Dover Co. (NYSE:DOV) Announces Quarterly Dividend of $0.52

Dover Co. (NYSE:DOV) announced a quarterly dividend on Thursday, February 13th,RTT News reports. Shareholders of record on Friday, February 28th will be paid a dividend of 0.515 per share by the industrial products company on Friday, March 14th. This represents a $2.06 annualized dividend and a yield of 1.02%.

Dover has increased its dividend by an average of 1.0% annually over the last three years and has raised its dividend every year for the last 35 years. Dover has a dividend payout ratio of 20.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Dover to earn $10.24 per share next year, which means the company should continue to be able to cover its $2.06 annual dividend with an expected future payout ratio of 20.1%.

Dover Trading Up 0.8 %

NYSE DOV traded up $1.70 during trading on Thursday, hitting $202.76. The company had a trading volume of 552,016 shares, compared to its average volume of 850,054. The company has a current ratio of 2.04, a quick ratio of 1.52 and a debt-to-equity ratio of 0.36. Dover has a one year low of $159.23 and a one year high of $222.31. The company has a market cap of $27.82 billion, a price-to-earnings ratio of 10.42, a price-to-earnings-growth ratio of 2.03 and a beta of 1.24. The company’s fifty day moving average is $195.21 and its 200-day moving average is $191.42.

Dover (NYSE:DOV) last announced its earnings results on Thursday, January 30th. The industrial products company reported $2.20 EPS for the quarter, meeting analysts’ consensus estimates of $2.20. Dover had a net margin of 32.95% and a return on equity of 21.03%. On average, sell-side analysts predict that Dover will post 9.47 earnings per share for the current year.

Wall Street Analyst Weigh In

DOV has been the subject of several recent research reports. Royal Bank of Canada lifted their target price on shares of Dover from $196.00 to $214.00 and gave the company a “sector perform” rating in a report on Friday, January 31st. Wolfe Research raised Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 target price on the stock in a report on Monday, October 28th. Wells Fargo & Company raised their price target on Dover from $200.00 to $215.00 and gave the company an “equal weight” rating in a report on Friday, January 31st. Citigroup dropped their price target on shares of Dover from $236.00 to $222.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Finally, StockNews.com upgraded shares of Dover from a “hold” rating to a “buy” rating in a research note on Tuesday, February 4th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Dover has a consensus rating of “Moderate Buy” and a consensus target price of $218.91.

Dover Company Profile

Dover Corporation provides equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services worldwide. The company's Engineered Products segment provides various equipment, component, software, solution, and services that are used in vehicle aftermarket, waste handling, industrial automation, aerospace and defense, industrial winch and hoist, and fluid dispensing end-market.